Biotechs slide after Clinton's EpiPen comments
In a statement responding to price increases for EpiPen from Mylan N.V. (NASDAQ:MYL), Hillary Clinton slammed drug companies that "put profits ahead of patients, raising prices without justifying the value behind them." Shortly after the posting, biotech indices slid Wednesday.
Clinton reiterated her commitment to address "exorbitant" drug price hikes, and vowed if elected to force drug companies to "explain significant price increases, and prove that any additional costs are linked to additional patient benefits and better value." Her statement linked to a September 2015 position paper on lowering prescription drug prices that includes a plan to require drugmakers that benefit from federal support to invest "a sufficient amount of their revenue in R&D, and if they do not meet targets, boost their investment or pay rebates to support basic research." ...